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Exide Industiries reports 16.76 percent decline in Q3

Battery maker giant Exide Industries on Tuesday reported a 16.76 percent decline in consolidated profit at Rs 118.15 crore in third-quarter end of December 31, 2019.

In a filing at the stock exchange, Exide Industries said, “the company has reported a decline of 16.76 percent in our consolidated profit at Rs 118.15 crore compared to Rs 141.94 crore which company reported in the same period last year.”

“Revenue from the operations was at Rs 3,553.64 crore as compared to Rs 3,283.4 crore for the same quarter last year,” the filing added.

Speaking on the company’s performance, G Chatterjee, MD & CEO of Exide Industries said, “while original equipment manufacturer (OEM) demand for automotive batteries remain subdued, growth in sales of automotive and UPS batteries continue.”

“The company continues to focus on cost control and technology upgradation, as strategies to improve the bottom-line,” he added.

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